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stuart: i remember this. new york city, we changed the shots so you don't get so much of the ugly brown building on the other side. a lovely sunny day. 10:00 eastern straight to the money, green on the screen but not as much as we had a few minutes ago, the dow up 60, s&p up 3 points, nasdaq turning south, the 10 year treasury yield is going up slightly, 3. 55%. wears oil? around $75 a barrel. bitcoin last time we checked is at 26/six, still there. that's the market. now this. hardly a day goes by we don't bring you a story about smash and grab raids, people walking out of stores with armloads of stuff without paying and then

you get stories of stores locking everything up and closing down completely because they just can't cope. look at the earnings report from target, financial impact of what is called shrinkage, the stock, the shrinkage is terrible, target focuses on organized shoplifting, a whole industry in itself. target says shrinkage will cut profit by $500 million. target workers in san francisco report being shoplifted every 10 minutes. 1 wall street analyst says, quote, theft is growing at a faster rate. organized shoplifting picked up steam after the george floyd riots when a mob helped themselves, the gangs realized the take could be bigger if it was professionally organized. there is a rash of store closings in big cities all over the country.

at the heart of it all is the radical idea that if you need something you have a right to it. that is an excuse to steal. in california you walk out of the store with $900 worth of stuff without paying. not likely to be challenged and if you are, it's only a misdemeanor. the left doesn't care about the poor people left without grocery stores or pharmacies. they only care about ruling private enterprise. after looking at the target reported seems they are winning. we have the backbone to stand up for commandment number 8, you shall not steal. second hour of varney just getting started. lose peak -- liz peek is with us, she did not know the eighth commandment. liz: i was impressed you did know.

liz: stuart: morality is at the heart of this. we are convinced we have a right to it. liz: this is not a poor hungry person, this is organized crime. we know that has happened in new york city where it is an organized assault on all kinds of stores and it has led to what you point out, stores putting up plastic barriers on toothpaste because they are afraid someone will clean their shelves off. what this leads to is higher prices, target is going to counter that loss by raising prices. that hurts everybody. it mostly hurts the people in those neighborhoods getting attacked all the time. you are seeing cities like san francisco, it is an appalling collapse of the rule of law but

this has taken hold in all aspects of american life, starts at the border, start at the top. there's no account ability. look at the durham report. anyone going to go to jail? of course not. forgive me, but i think this is a systemic problem, no one respects the law. i will stop ranting. stuart: that wasn't her rant. you've got an op-ed, talk of a possible third-party candidate for 2024. what is the name? no labels? you are writing about it. if we do get a third party and the 24 election, from whom does the third-party candidate take the vote? trump or biden? >> i'm not endorsing this. i just say people should know about it because they call it an insurance policy against a rerun of 2020, trump versus biden. they are doing it, so many

people 60 or 70% of the country do not want to see the rerun between trump and biden, they don't like the choice, they are talking about feeling a centrist, one republican, one democrat, joe manchin, larry hogan, centrist people on both parties but hard to find a centrist democrat these days. to answer your question the polling they have done which is vast polling in every state shows they would take equally from both parties. when ross aro ran, he did take voters, people thought he torpedoed the election of george herbert walker bush, but in fact he took just as many votes from the other side. and by the way, as a republican go into this election, i will probably vote for trump. i don't think he is the best candidate, he has a number negatives, he may not win but i

would be worried a lot of people would be worried if it would mean four more years of joe biden we cannot afford that. stuart: we can't afford that or harris. you want to take that risk for the next six years? >> that is the issue. our country is in such trouble we've got to have a change. a centrist would be better than joe biden. a republican would be better than a centrist in my view. stuart: nice, thank you very much. president biden has dropped the mayor of new york from his reelection campaign. why did he drop eric adams? >> democratic infighting over the border. eric adams said in april the president and the white house failed new york city so this scoop inside the biden split with the new york mayor, the white house quietly removed eric adams from the board for reelection. he will be a campaign surrogate.

eric adams is deal with every migrant who wants to come to new york city. the city, our taxpayer dollars spending $8 million a day just to house them. he has been vocal about it, saying the white house, the administration, lack of policy at the border is allowing them in and they are coming to new york city and his constituents are mad about it. parents do not want migrants in the gymnasium next to their schools. stuart: why doesn't he reject santora status for new york city? >> you won't go that far. stuart: senator dianne feinstein insists she's not been absent from the senate. >> very public lapses. let's do that, she was gone for 3 months. she had shingles as is recovering. she told reporters she never

left. senator john fetterman gave opening remarks ahead of the regional bank ceo hearing. watch. >> they want to go to hawaii after crash of the bank and couldn't believe it. it is an inside joke now matter how incompetent or greedy, the government will always bail you out that you can't crash the economy, is it a staggering response ability that the head of a bank could crash our economy. neil: then he allowed questioning. he asked ceo greg becker if there should be mandated work requirements for bailed out executives. the whole thing -- stuart: that was painful to watch.

back to the markets. who's here now? david stravinsky. why are you worried about the debt ceiling? it always gets fixed eventually. and the tax and spending the democrats are going to get rather than a bogus down to the wire enough to coming up. >> i agree. good morning. the behavior that got us in the situation more important of an issue than negotiating for a higher credit card rate. 250 years ago our nation started. in 2019 we have $20 trillion in debt. there was a big number. i was concerned back then. we had $10 trillion in the last three years. that's a significant cause for pause. how did we get into this mess? it didn't just show up. another moment like 2011, we were downgraded as a nation. if we understand credit scores,

our credit score goes down, houston, we've got a problem here. we are looking to raise the dead employment, that is wonderful but ultimately we have to have a plan going forward, if the nation suffers a credit score issue, we will find ourselves not being the world reserve currency or less credit worthy, ultimately we pay higher interest rates. congress has a difficult decision. stuart: you are right to raise this. in 2011, the credit rating used to be solid gold, aaa was reduced to aa plus. but you are saying, because we have vast debt we are looking at, they downgrade us again. that would be a real disaster for us. do you really think it is likely? >> i don't know what the probable cause is.

we still are left with reality that we are spending more than we bring in. they can either reduce the budget which is the important thing and response will thing we could be doing or they can raise taxes. my fears they will do the easy thing and we have so many baby boomers approaching retirement, most of their money is in 401(k)s and never paid a penny in taxes, they have expectations what they will be paying in retirement and my guess is they will be pretty surprised to find themselves in a much higher tax rate as they go into the future with required minimum distributions mandated to be paid taxes on at a higher rate. stuart: we consider ourselves warned, and a good morning it was, you can come back again soon. i am looking at the movers. starting with united airlines, which is up 4%. lauren: memorial day weekend, summer vacation, 3 million people are expected to fly with

them over memorial day weekend. big demand and they hire 15,000 additional employees this year. stuart: when his memorial day weekend? lauren: the 20 sixth or the 30th a the top of my head. stuart: i am often you are filling in. when resorts, 6%. lauren: they were upgraded to overweight. they like how macau is performing. stuart: on holdings. lauren: i always said on but it might be on. does anybody know? stuart: only two other people in the studio. lauren: it looks like a see sometimes, really popular. it is down 8%, it is up 75%. extremely comfortable shoes, really good earnings. why is the stock down? growth is slowing and it is going to happen later in the year. analysts say it is too saturated.

there is more niche brands popping up. stuart: i shall remember that. now this. that broke state of california is considering unemployment pay for illegal migrants. the governor has just vetoed that suggestion. we talk about the golden state and more coming up shortly. new york city mayor eric adams calls out president biden's lack of response to the growing border crisis. >> where's the president of the united states? >> good question. it needs a national solution. stuart: 6 people in the fbi terror watch list. if you ask the president, he's getting better all the time.

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stuart: the governor of california helping with the border crisis in texas. how many agencies he sending? lauren: 1100 assets going to the southern border. texas asked, florida is answering. what is florida sending? law enforcement, national guard, highway patrol, they will be there for a minimum of 30 days. this is timely, title 42 is expired but it is expected that days from now, desantis will

announce he's running for president of the united states and he has prioritized the border. stuart: he wants to be the president and the border is the issue. president biden insists the crisis at the southern border is getting better. watch this. >> president biden: it will be much better. stuart: looking much better. congressman pat fallon from texas joins us now. 6 people in the fbi terror watch list were arrested at the southern border in two days. how is it getting better? >> it is not and if you look at the numbers, we don't even have april's numbers but we have them from last year, the last month of april donald trump was in office.

from 2020-2022, 240,000 illegal crossings in 2022, 1258% worse than the last april donald trump was in office. we had never seen in our history, 200,000 illegal crossings until president biden became president. we saw it for 14 months in a role and they are part rolling 100,000 casting mashed county that is illegal crossings. we crossed the 300,000 threshold. crisis, catastrophe. stuart: you said they are part rolling 100,000. you mean they get in, processed and entered the country and don't have a court date, they are just in. one hundred thousand in the last 2 or 3 weeks. is that it? >> we don't know the numbers yet for the last 6 weeks but that is what they are doing, no alien registration number, no court date. welcome to the country. by definition that is an open border. stuart: mayor eric adams is calling out president biden over his handling of the

migrant surge. >> where's the president of the united states? >> that is a good question and we all should be asking why is this happening? this should not be happening to new york to become chicago, los angeles and shouldn't be happening to el paso or brownsville, texas. it is a national problem that needs a national solution. stuart: i think texas should be sending migrants to all those cities and states that have declared themselves sanctuary cities and states. why not? >> absolutely right. what president biden has done is make every state a border state. i can't believe i'm about to say this but i agree with mayor eric adams. president biden has been asleep at the wheel for 21/2 years on this. we can't bear the burden anymore. it's costing billions of dollars. off i was governor of texas i

would make sure there's an express bus going to hakeem jeffries, to president biden's beach house in delaware to the vice president's house in dc and chuck schumer's residence in new york to make sure they understand what this is like, we can't just allow mass migration when you don't know who these people are. stuart: ash what point do we have a municipality or state saying we are not taking them and we are putting out on the state line or city line, at what point does that happen? >> we are fast approaching that point. 7 million illegal crossings, 99% of them economic migrants, ngos tell them to say certain things that trigger an asylum claim. look at the left appling which, they used to be illegal aliens, then illegal immigrants, then and document it workers and now they are all asylum-seekers. you cannot believe the left on

this. stuart: thank you for being with us on an important day, thank you. lawmakers in california looking to give illegal migrants who were laid off unemployment benefits. this is nothing to do with the surge, the new surge of migrants, this is illegals already there who may have been working, they get laid off in california wants to give them 300 million. lauren: they cost $365 million. it is called the safety net for all workers act. it would provide $300 a week for up to 20 weeks for laid off illegal immigrants. proponents say illegal immigrants contribute $485 million to california's unemployment insurance system and they never see a scent of the benefits but critics, like experts for the center for immigration studies say this

proposal undermines immigration policy. >> these incentivize illegal immigration, success in immigration policy is to reduce the number of illegal immigrants who are here already and decide to go home. this is contrary to both objectives. lauren: california is not the first state to push for benefits, colorado passed a law two years ago allowing illegal immigrants to collect on employment benefits, new york also had a short-lived program, pulled out $2.1 billion to 120,000 applicants according to the immigration reform law institute, dc had a similar proposal in place. as california's legislature hold a hearing tomorrow governor gavin newsom is facing mounting pressure to take action. he vetoed a similar bill last year saying it needed to address fiscal concerns. this year, the financial positions in california are no

better, facing a deficit of $32 billion, $10 billion more than anticipated. expensive proposition especially right now. stuart: if it works, they will do it. thanks very much. the you fda is considering banning chocolate milk in schools to combat childhood obesity. is flavored milk the culprit? we will investigate. we told you how biden's open border policies is dragon country down financially. doctor marc siegel says the migrant invasion is causing a public health emergency. he looks plain that next. ♪ ♪ this thing, it's making me get an ice bath again.

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stuart: president biden will deliver remarks on the debtor negotiations attend:45, 15 minutes from now. and also figure out if he takes questions. on the markets the dow is up 100, the nasdaq is up 30 points.

western banks, up today. they all are. lauren: all the banks are because of confidence the debt ceiling deal will pan out. it is also up because western alliance said they grew their deposits by $2 billion since the collapse of the other banks. all good news for the banking sector. stuart: the ceo has filed, stock is down a little bit, it happened over 1%. blue when the container, up or down. lauren: they are down big, expensive packaging to put your stuff in and they are cutting back. they cut their expectations for the year. stuart: down 8%. i want to bring in doctor marc siegel. we are talking the political,

economic, you are worried about a public health emergency at the border. explain please. >> why wouldn't i be? the border protection stations are swamped, already crowded and there's the risk of contagion and infectious diseases, more to the issue of injuries and people trying to cross the border, i know from interviews i've done that hospitals in the region are overwhelmed with people. it is not highly vaccinated crowd. there is the issue at risk of tuberculosis which has tripled, migrants coming across the border over the last few years without counting 10,000 today we are seeing now. of course with title 42 rollback, hey, stuart, when my grandparents came to the united states, they were screened for tuberculosis.

how could you screen somebody medically if they are coming in illegally? stuart: when i first immigrated i had to go through all kinds of medical checks to make sure i was okay and have enough money that i -- i got in. i'm interested in this. we have a new study that shows lack of deep sleep is linked to greater risk of alzheimer's. what do you have on that? >> the university of california berkeley got a big sleep center, even if you have the amyloid proteins in your brain that could usually be associated with alzheimer's, the group that had a lot of deep sleep, we are talking rem sleep, we are talking really, no one is waking you up easily, that group didn't progress cognitively to alzheimer's or dementia. it is a small study.

in the united kingdom, they are doing a larger study, it fits into what i've been saying a long time. it's all about lifestyle. how well do you sleep? how well you exercise, how much stress do you have? that is why you don't have a simple cobweb. stuart: nice try. i do sleep a lot. i get at least 8 hours a night. is that a lot for a guy my age or little? >> it is terrific, exactly what the target is. 7 or 8 hours of white rest, full sleep. that is what we want and this is how the brain works. it cleans itself out during sleep. that's where all the byproducts, literally cleans itself while you sleep. stuart: i've got one last one. the administration may ban school cafeterias from serving chocolate milk and other flavored milk. they are combating obesity. does that work?

>> i don't think banning anything works. if anything they should have learned that during the pandemic when they were forcing masks on kids, kids got unhappy, there were mental health issues, socialization issues. you want to provide nutrition in schools i am all for it but 1.5 billion gallons of chocolate milk were drunk last year and a cup of chocolate milk has 8 g of protein. it may be the only way a child is getting protein in their chocolate milk, stop telling them what not to eat. you ban french fries, pizza, you will get a lot of unhappy kids. you put vegetables in schools, i am all for it. stuart: when i was a kid in england, every schoolchild got one third of a pint of milk every day. there was nobody, i never heard the expression lactose intolerant. 50 or 60 years ago, but that was back then.

out of time unfortunately. it was great having you on this morning. i will see you soon. >> nothing about it ever. we are learning more about exactly what caused the nationwide drug shortage last year. lauren: you couldn't get tylenol or tamiflu. a report blames panic buying for the shortage, by parents, households and hospitals. everybody was worried because we had covid and the flu and rsv. people were freaking out, they would see that. what is the solution to this. the manufacturers of the drug communicate to the public, this is the supply, the demand. stuart: people want to purchase.

lauren: motrin and tylenol. stuart: bud light is trying to break away from its dylan mulvaney controversy with a new bottle design. it will be very patriotic and we have the story. barstow sports, dave portnoy talks about a man who was talking on a speakerphone in an airport. >> put somebody on speaker like this, it is crazy. take it off speaker and put it in your phone. basic human decency. stuart: basic human decency, don't talk on your phone real doubt in the airport. is he right? dave portnoy is next. ♪

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stuart: dave portnoy blasting a guy for talking a speakerphone in the airport. >> don't fly commercial. i don't get people like this. who put somebody on speaker like this? is crazy. does he hear me talking? take it off speaker and put it in your phone. basic human decency. stuart: got to tell you. i am with you all for way. what do they do? you said something to the guy? what did he do? >> reporter: i didn't say anything, he talked loudly behind his back, i don't think he heard me.

i have heard people, maybe the phone is broken, people do this all over the place and it is a violation. stuart: would you ever get in his face and say turn it down? >> got to take into account how big is the guy, i'm not the toughest guy to come down the pike. i am more a verbal guy. i don't like physical altercations. i'm kind of a whimper. stuart: what are you doing in an airport flying commercial? i thought you were superwealthy guy? >> it's disgusting, my buddy has been giving me his hockey picks to bet on and they all lose. i have been losing so many games, i will fly commercial. it's not easy. my friend has been awful to me. stuart: hope he's not watching but he probably is.

there is not much going on with crypto. what are you buying? >> the stock market has been just stuck. i feel you are not getting much movement either way. it's boring, stagnant stock market. i have been playing the earnings a little bit. you have these wild swings left and right. stuart: name a stock. >> i bought $2 million, not a financial advisor, down since i bought it. don't want anybody coming at me like the sec. i bought $2000 of stock last week. stuart: you are aware this afternoon, manchester city placing one of the most

important soccer games of the year. you are working in a gaming enterprise. what are the odds? who have you got? >> that the champions league game. i don't know what the odds are. i assume man city is the favorite, they are one of the best teams, they had a great come back arsenal in the premier league, one of the great jokes in history of soccer, they are coming all the way back, disgusting to see arsenal puke all over themselves, it is my favorite. stuart: that's why you have a good audience because you use extreme language. that is a new one. that is a new one. >> 11 point lead with four games to go, couldn't close the door, you they puke all over themselves. stuart: i was taking issue with the word puke.

that is another story. >> i bet they are fans. stuart: how about this? i want to talk about those self checkout kiosks. they ask for tips. customers collect emotional blackmail. i want your rules. who do you tip, how much and when? >> this is a tough one. i tend to tip all the time even if it is at a kiosk. i am deathly afraid, don't do it to be a nice guy, i'm deathly afraid of somebody seeing me not tip. that would be like dave portnoy is a cheapskate who doesn't to. i live in fear and it forces me to tip at all times. stuart: exactly the way i feel. you are all right. thanks for being on the show today. by the way, i think they could go far. thank you, see you later.

novak djocovicz called out his opponent from lack of sportsmanship. lauren: his opponent from britain hits the ball into his leg, to the net. he turns on his lower leg, he was annoyed about that but he admitted may be he didn't realize. watch. >> i did watch the replay. maybe you could say he didn't hit deliberately and come in the face of every single point. those are the things we players know in the locker room is not fair. it is not how we treat each other. lauren: how he played the environ game, didn't like his attitude. stuart: surely --

lauren: he seemed to say i am sorry and there's the icy stare. that is how it appears. stuart: next case, elon musk rails against remote work, the return to the office stalls. musk says working from home is, quote, morally wrong. is 19 too young to charge your children rent? not according to one texas couple and their daughter. they set a huge online debate about this. madison alworth will cover it for us next. ♪ ke...? ...everyday products... ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours! with 2.5% cash back on purchases of $5,000 or more... plus unlimited 2% cash back

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stuart: we have some -- up 100 points, the nasdaq up 43 in the last half-hour.

tesla ceo elon musk slamming remote and remote work, he's slamming it. what is he saying? lauren: he says remote workers for the silicon valley laptop class that lives in lala land. >> people are more productive in person. >> it is a moral issue. work from home -- because they are asking do not work from home, they do. lauren: so yes, productivity issue, you work better in person and amorality issue. stuart: more small businesses are slowing their hiring. do they see a recession? lauren: they are tightening their belts. one way to do that, slowdown their hiring. 45% of small businesses plan to expand their workforces in the next 12 months. a year ago that 45%, they are

pulling back but there pool of available workers may be shrinking. people who relocated for jobs hit an all-time low in the first three months of this year. people are saying i am not going to move for a job for two reasons, i can work from home and i am tied down to my mortgage. you're going to put me in a new city where i have to trade that in for a higher priced house? no way. stuart: a new debate is raging online. is it fair to charge your kids, children, rent once they graduate from high school. where do families stand on this? lauren: some said they would never charge their kids rent. others say it is only fair and a good idea. the family of the arches where they stand, they are standing

strong. the family got attention on the internet for telling their daughter that if she was not going to enroll in college, i have a full-time job and work at home they would charge her rent, $300 a month, $200 a month if she bought groceries. the trend, parents charging rent, is being talked about online. there is a strong debate. we wanted to talk to people and see what they think, we got fiery responses including anna whose son lived at home with her until he was 25. at that point she demanded he pay rent. take a listen. >> i tried but he never paid rent. he paid bills like the electric bill and stuff like that. >> i wouldn't initially charge rent. you've seen the movie failure to launch. >> i wouldn't charge her. i would expect her -- we talked about the house is not a hotel. she could contribute something to the family.

it's easy just to move back home and not contribute anything. lauren: something a lot of families talk about, my dad had four rules, rule number one, go to college, will number 2, go away to college, will number 3, college is a four year institution, no more. no five years. number 4, when you are done with college you don't move back. my dad is my biggest fan and probably watching this right now. now that i many years out of college i know that are will to get me on my way, to make it so i had to take her career in a big city, start my life, start my job, and i am grateful for it. we are going to hear from them, they will be on "the big money show" this afternoon, lots of conversation online, a lot of families at home having that conversation right now. stuart: you've got children, not available for paying rent. will you charge them rent?

>> depends how they are with their finances. if they did i would secret the keep it, save it. until they move out. some families do that. $400 a month and the account on the side, here you go. stuart: that a good compromise. and you enforce the principal as well, saving and getting a chunk of money together. >> we've seen reports the kids, young adults are spending it because they have this extra, they are not spending $1000 a month on rent. stuart: what is a frivolous thing? that is the problem. $100 sneakers, is that frivolous? >> that is cheating. stuart: moving on, thank you. just ahead, sean duffy on aoc pushing biden not to concede on debt negotiations, brandon judd

talking about ron desantis sending reinforcements to deal with the border crisis and jonathan morris on a growing number of people switching their religions. also have this. vice president harris does not inspire confidence. many democrats are afraid of a harris presidency. the president cannot fire her for incompetence because identity voters would rebel. that is "my take" and it is next. ♪ ♪ shingles. some describe it as an intense burning sensation or an unbearable itch.

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stuart: it is 11:00 eastern time on may 17th. at any moment, the president will deliver remarks on the debt ceiling from the white house. let's check the markets. i see some green. the dow is up 120, modest gains for the s&p and nasdaq. big tech, not so much a mixed picture as a consistent picture. amazon, meta, microsoft up, alphabet, apple ever so slightly down. the 10 year treasury yield coming in at 3.55%. that's the markets. now this. when does a politician become a liability?